- August/September time spread narrows- Malaysia's PRefChem issues a sell tender



Asian benzene fell $15.34-20.25/mt to
$1,230-1,260/mt FOB Korea on July 5, in spite of lower offers. The FOB Korea fixed price
offer levels were $1,235-$1,240/mt, while the bid was $1,210-1,250/mt. The August/September spread was also offered at a reduced
$13-18/mt. In the afternoon trading
session, however, the market on Close assessment Commodity Insights offered
$1,219-1,250/mt to any August cargoes FOB Korea. Bids were $1,214-1,250/mt. The inter-month spread narrowed even further with the
August/September physical spread heard at $9-10/mt prior to the MOC process. Malaysia's Pengerang Refining and Petrochemical (or
PRefChem) issued a tender for two benzene cargoes weighing 3,000 mt each. The
loading range was July 21-23 and August 30-Aug. 1. The load port was Pengerang
Terminal Two Sdn Bhd, Johor, Malaysia.